Howden selects investment banking vets to build out surety offer

International insurance brokerage group  Howden has hired three big names from the investment banking sector in a move to build out its offer for surety lines.

Kevin Barrett, Patrick Shields (pictured bottom) and Warren Withfield (pictured up) are all dropping career paths in investment banking and securities’ origination to take new roots in insurance broking at Howden’s surety division in London.

“These appointments demonstrate Howden CAP’s continuing strategy to recruit specialist talent from beyond the insurance industry, enabling it to build a market-leading capital and insurance solutions advisory proposition for its FIG and corporate clients,” Howden said of the hires.

Withfield comes to Howden from NUFG Securities where he spent 17 years in the loan syndications origination team. At Howden CAP, he will establish a dedicated global syndication desk supporting corporate clients and banks with bank-surety syndication transactions.

Barrett comes to Howden from Moore South Africa where he was head of distribution and syndication as the latest step in a 20-year run in investment banking. Barrett will now play a leading role in building out structures, solutions and relationships for Howden for surety clients operating in developing markets, with a key focus across Africa.

Shields will bring 30 years of experience to support in the creation of a dedicated bank fronting desk in order to support clients’ bank guarantee and SBLC requirements globally, as well as assisting partner sureties and partner brokers, Howden said.

Howden CAP CEO Mary O’Connor said: “The arrival of Kevin, Patrick and Warren is a clear demonstration of our intention to enhance our market-leading surety proposition and strengthen our capabilities in this sector. Their experience will complement our offering in trade credit and structured credit, whilst adding additional expertise that can help our clients find answers to the most complex requirements.”

Howden CAP’s head of surety James Souter added: “Our significant growth plans are built around supporting our clients and the over-arching global trends towards the increased usage of surety market capacity and capability especially for global needs where traditionally the banks have been the main capital source. The arrival of three senior bankers and the establishment of dedicated specialist desks signifies our intention to position Howden CAP to provide unique and ground breaking solutions to our clients globally, in conjunction with our core banking partners. We will be continuing to invest in specialist sector-related expertise, as well as dedicated local international expertise.”

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